The blood supply chain is complex and subject to uncertain supply and demand. This paper proposes a system dynamics model that considers the correlation between the supply of different blood products. The model evaluates the long-term effect of disturbances on the shortage and wastage levels of blood. The real case of Bogota (Colombia) is used for the analysis. The results of the experiments for a demand-driven policy provide managerial insights for limiting the expected shortage and wastage levels, especially when the supply of products is correlated. The proposed model is a tool for decision-makers to estimate the effect and the sensitivity of the performance indicators to different policies on the blood supply chain.